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4-11 On January 1, 2017, Oriole Inc. had cash and common stock of $64, 110. At that date, the company had no other asset, liability,
4-11
On January 1, 2017, Oriole Inc. had cash and common stock of $64, 110. At that date, the company had no other asset, liability, or equity balances. On January 2, 2017, it purchased for cash $20, 650 of debt securities that it classified as available-for-sale. It received interest of $3, 400 during the year on these securities. In addition, it has an unrealized holding gain on these securities of $6, 230 net of tax. Determine the following amounts for 2017: (a) net income, (b) comprehensive income, (c) other comprehensive income, and (d) accumulated other comprehensive income (end of 2017). Net income $ Comprehensive income $ Other comprehensive income $ Accumulated other comprehensive income $Step by Step Solution
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